CFPB: Proposed Rule to Shine New Light on Small Businesses’ Access to Credit
Proposal Would Increase Transparency in a $2.4 Trillion Sector of the American Economy and Bolster Fair Lending The Consumer Financial Protection Bureau (CFPB) today proposed a new rule designed to help small businesses gain access to the credit they need and deserve by increasing transparency in the lending marketplace. This rule, mandated by Congress in…
EDA: $3.4 Million Invested to Support Entrepreneurs and Economic Diversification Efforts in St. Clair County, MI
Today, U.S. Secretary of Commerce Gina M. Raimondo announced that the Department’s Economic Development Administration (EDA) is awarding a $3.4 million grant to the Economic Development Alliance of St. Clair County, Port Huron, Michigan, to construct an 11,000-square-foot building for use as a small business incubator that will support emerging and second-stage businesses in the…
SBA: Supplemental Grant Applications for Shuttered Venue Operators Grant Awardees Opened
Awards Expected to Begin Going out within Two Weeks Today, the U.S. Small Business Administration announced it will begin sending invitations for supplemental awards for the Shuttered Venue Operators Grant program. Per the Economic Aid to Hard-Hit Small Businesses, Non-profits and Venues Act, SVOG supplemental awards are to be provided to those who received an initial grant and have illustrated…
Census Bureau: Small Business Pulse Survey Phase 6 Weekly Data Released
The U.S. Census Bureau today released new data from the sixth phase of the Small Business Pulse Survey (SBPS). Data collection began August 16. Results will be released weekly August 26 to October 21. New content in the SBPS Phase 6 covers difficulties hiring employees, new workplace norms, changes in demand for goods or services, and price changes…
SBA: Moratorium Announced on Bona Fide Place of Business Requirements for the 8(a) Business Development Program
The U.S. Small Business Administration today announced a moratorium on the requirement that participants in SBA’s 8(a) Business Development Program must establish a bona fide place of business in a specific geographic area in order to be awarded any construction contract through the 8(a) Program due to the ongoing challenges of COVID-19. The moratorium is effective August 25, 2021,…
SBA: PPP Direct Borrower Forgiveness Portal Surpasses Expectations and Accepts More than 340,000 Submissions in First Two Weeks
SBA portal significantly outpacing top PPP lenders not utilizing the Agency’s direct forgiveness tool in forgiveness submissions Since the opening of the Paycheck Protection Program (PPP) Direct Borrower Forgiveness Portal on August 4, the U.S. Small Business Administration has received more than 340,000 submissions from borrowers with PPP loans of $150,000 or less, highlighting Administrator Isabella Casillas Guzman’s priority of rushing relief to the smallest of small businesses and far exceeding expectations. In providing its new, streamlined portal, the SBA is also executing…
Census Bureau: Small Business Pulse Survey Phase 6 Begins
The U.S. Census Bureau today announced the beginning of data collection for Phase 6 of the Small Business Pulse Survey (SBPS). This experimental survey was designed and launched in April 2020 to measure temporal economic trends in the nation’s small businesses and provide insight into the scope of impact of the pandemic response in the United States….
SBA: $2.7 Million in Grants Awarded to 14 Women’s Business Centers
Funding Aims to Help Improve Innovative Projects Aiding Women-owned Businesses Impacted by COVID-19 The U.S. Small Business Administration issued 14 grant awards of up to $200,000 each to organizations in 13 states as part of the Women’s Business Centers (WBC) Resiliency and Recovery Demonstration Grant under the SBA’s Office of Women’s Business Ownership (OWBO). The purpose of the grants is…
SBA: Grants Awarded to 33 Organizations to Help Underserved Communities Succeed with the Small Business Innovation Research Program
The U.S. Small Business Administration issued 33 grant awards up to $125,000 each for specialized training, mentoring, and technical assistance for research and development (R&D)-focused small businesses under the Federal and State Technology (FAST) Partnership Program. FAST seeks to improve outcomes in the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs for underserved communities…
SBA: Plan Announced to Open Supplemental Grants for Shuttered Venue Operators Grant Applicants
All potential SVOG applicants encouraged to apply Today, the U.S. Small Business Administration is announcing a call to all eligible Shuttered Venue Operators Grant (SVOG) applicants seeking economic aid for live entertainment small businesses, nonprofits, and venues. New applications will be accepted until 11:59 p.m. PT on Friday, August 20, 2021. The SVOG program has so far…